SINGAPORE

Crypto / Digital Assets

MAS Awards Major Payment Institution Licence to Upbit Singapore

By Ranamita Chakraborty | 09/01/2024

The licence means Upbit now has regulated digital asset businesses in Singapore, Korea, Indonesia and Thailand.

ESG / Sustainability

Singapore Professional Bodies to Boost Sustainability Services

By Mark Johnston | 08/01/2024

ISCA and LawSoc Singapore have launched a three-year programme to help firms offer sustainability services.

Capital / Liquidity

MAS Finalises Recovery Planning Requirements for Insurers

By Nithya Subramanian | 02/01/2024

Recovery plans should include a “framework of recovery triggers”, an escalation process, a menu of recovery options, and a communication plan.

Enforcement

Singapore Announces Criminal Charges Over DPRK Gasoil Sales

By Editors | 26/12/2023

Defendants are accused of shipping gasoil to North Korea in violation of UN sanctions via the MT Courageous, an oil tanker seized by the US in 2021.

AML / KYC

Singapore Authorities Warn of Scammers Posing as MAS Officers

By Mark Johnston | 22/12/2023

The scammers accuse victims of being involved in criminal activities before asking them to transfer money to designated “security accounts”.

Enforcement

Swiss Bank Exec Pleads Guilty to ‘Singapore Solution’ Tax Evasion Scheme

By Ranamita Chakraborty | 22/12/2023

Rolf Schnellmann and co-conspirators helped to fraudulently conceal the bank accounts, assets, and income of US taxpayer-clients.

Fintech / Regtech

Singaporeans Open to GenAI, but Concerned About Data Security

By Nithya Subramanian | 21/12/2023

A robust and effective data governance strategy will be crucial for banks to ensure responsible use of AI, said Kanv Pandit of FIS.

Crypto / Digital Assets

HashKey Secure Fund Management Licence in Singapore

By Editors | 20/12/2023

With the new licence, HashKey intends to provide regulated fund management services to institutional and accredited investors from Singapore.

Securities / Derivatives

SGX Offers Guidance to Listed Companies on Rights Issues

By Nithya Subramanian | 19/12/2023

The guidance came after Stamford Land allocated excess rights shares to directors and controlling shareholders before fully satisfying applications by minority shareholders.